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Corporate governance

Queensland Treasury and Trade’s corporate governance framework supports integrated planning, budget and performance management activities, and provides guidance to executive management teams and committees. It also informs the department’s risk management strategies.

Leading Queensland Treasury and Trade

As a central agency and the State’s financial and economic manager, Queensland Treasury and Trade provides leadership to other Queensland Government agencies.

Accountable to the Treasurer, Under Treasurer Mark Gray sets the direction for the department. He is supported by Deputy Under Treasurers Alex Beavers and Liam Gordon, the Executive Management Team and various committees.

The Executive Management Team (EMT) comprises:

  • Under Treasurer
  • Deputy Under Treasurer (Fiscal)
  • Deputy Under Treasurer (Economics)
  • Executive Director, Projects Queensland
  • Chief Operating Officer
  • Commissioner, Office of State Revenue
  • Director, Cabinet Legislation and Liaison.

EMT's main role is corporate governance and developing the department’s capability priorities, which support its corporate planning process. The group also determines operational policy and strategies to identify and manage key areas of risk and portfolio-wide issues.

Queensland Treasury and Trade's Audit and Risk Management Committees provide strategic advice on audit and risk management issues.

Planning and resourcing

All of Queensland Treasury and Trade’s planning activities are directed towards achieving Queensland Government priorities and community stakeholder needs, and are based on an outcomes framework. These outcomes are based on the links identified in the Charter of Fiscal Responsibility.

The flow chart below shows the planning and reporting activities of the department and the links between them.

Queensland Treasury planning and reporting diagram.

To ensure outcomes are achieved, each business area develops an output plan which details its vision, mission, strategic business priorities, capability priorities and performance measures.

The capability priorities detail the resources, competencies and infrastructure needed to support the portfolio office so it can achieve its strategic business priorities and contribute to the department's outputs.

Budgeting

Queensland Treasury and Trade resources are allocated to deliver the strategic business priorities identified during planning. A Service Delivery Statement is prepared to detail the department's budget, performance and future objectives.

Monitoring performance

As a Queensland Government agency, Queensland Treasury and Trade bases its decisions on planning, resource allocation and management, monitoring and performance on the Queensland Government’s financial management framework.

The department has undertaken considerable work in recent years to strengthen financial accountability within Government by developing the Financial Accountability Act and working directly with agencies to meet their obligations.

The department's performance is monitored externally through the Parliamentary Estimates Committee process and internally through the Executive Management Team.

Queensland Treasury and Trade is accountable to the Treasurer who reports on the department's performance against its Service Delivery Statement through the Parliamentary Estimates Committee process. In addition to the Parliamentary process, quarterly performance reports are also prepared for the Government.

The department's performance is also monitored closely internally. Monthly finance reports are provided to the Under Treasurer.

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Last reviewed 4 March 2014